First National Trust Co Sells 149 Shares of Eaton Co. plc (NYSE:ETN)

First National Trust Co lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 0.8% during the third quarter, Holdings Channel.com reports. The fund owned 17,403 shares of the industrial products company’s stock after selling 149 shares during the period. First National Trust Co’s holdings in Eaton were worth $5,768,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its position in shares of Eaton by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after buying an additional 18,077 shares in the last quarter. Capital World Investors lifted its stake in Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after purchasing an additional 2,439,270 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Eaton by 15.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock valued at $412,108,000 after purchasing an additional 176,571 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after purchasing an additional 1,070,024 shares during the last quarter. Finally, National Pension Service raised its holdings in shares of Eaton by 13.0% during the 3rd quarter. National Pension Service now owns 865,820 shares of the industrial products company’s stock worth $286,967,000 after buying an additional 99,381 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of recent analyst reports. Sanford C. Bernstein started coverage on Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Raymond James lowered their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Citigroup started coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price on the stock. Morgan Stanley initiated coverage on Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective on the stock. Finally, Barclays lowered their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $343.28.

Insider Activity

In other news, Director Karenann K. Terrell acquired 500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the acquisition, the director now directly owns 500 shares in the company, valued at $149,485. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Dorothy C. Thompson acquired 2,205 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Karenann K. Terrell bought 500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was bought at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the acquisition, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 117,745 shares of company stock worth $39,278,367. Company insiders own 0.53% of the company’s stock.

Eaton Stock Performance

ETN stock opened at $371.95 on Tuesday. The firm has a market cap of $146.99 billion, a PE ratio of 39.57, a price-to-earnings-growth ratio of 2.94 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average price of $328.30 and a 200-day moving average price of $319.80. Eaton Co. plc has a 1-year low of $220.24 and a 1-year high of $373.39.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.47 earnings per share. As a group, equities research analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.01%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.